Telecom Giants Rumored To Be Sealing Big Deal - Today!

Friday, 22 Dec 2006 | 10:16 AM ET

The acquisition of Bell South by AT&T might be at hand. CNBC's David Faber has his ear to the ground -- and "The Street."

Faber says these companies are pushing hard to try and close the deal today.

The deal has been in the works for a while (much like today's earlier deal between News Corp and Liberty Media). You might remember, at one point in the process there was a big hold up as one of the FCC commissioners had to recuse himself.

Apparently, the negotiations are moving forward. When it's done, the deal would result in the biggest telecom company in the country, by far.

Stay tuned - we'll let you know - first - if they're able to pull it off.

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  • Carl Quintanilla is an Emmy-winning reporter and co-anchor of CNBC's "Squawk on the Street," broadcast live from the NYSE.

  • Simon Hobbs co-anchors the 10 a.m. hour of CNBC's "Squawk on the Street" live from the New York Stock Exchange.

  • Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

  • Co-anchor of CNBC's "Squawk on the Street," David Faber also is a co-producer of CNBC's original documentaries.

  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.